XN000022-1987-11-24 — Page 19

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GOVERNOR GIVES PRESS CONFERENCE

FOLLOWING IS A FULL TRANSCRIPT OF THE PRESS CONFERENCE GIVEN BY THE GOVERNOR, SIR DAVID WILSON, TODAY (TUESDAY):

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יך 1

H.E : GOOD AFTERNOON. IT IS NICE TO SEE YOU ALL THROUGH THE BARRAGE OF CAMERAS AND

IS NICK TO KNOW THAT BOTH TELEVISION COMPANIES ARE APPARENTLY OPERATING IN CO-OPERATION!

A

IT IS SEVEN MONTHS SINCE I CAME TO HONG KONG IN MY PRESENT APPOINTMENT. IT IS SOME SIX MONTHS SINCE I GAVE A PRESS CONFERENCE. GREAT DEAL HAS BEEN HAPPENING DURING THESE SIX MONTHS AND I THOUGHT IT MIGHT BE A NICE OPPORTUNITY TO MEET ALL OF YOU PUBLICLY AND TO ANSWER ANY QUESTIONS THAT YOU WANTED TO PUT FORWARD. MOST OF YOU T HAVE MET OVER THE LAST FEW MONTHS. MANY OF YOU 1 HAVE MET SEVERAL TIMES OVER THE LAST FEW MONTHS. SO I AM AT YOUR DISPOSAL TO TRY TO ANSWER ANY OF YOUR QUESTIONS.

DIS: FIRST QUESTION? THE GENTLEMAN IN THE FRONT.

FIRST

ALSO

YOUR

KONG ECONOMIC JOURNAL: THE LO WING-HUNG, OF THE HONG

TRIP QUESTION, CONCERNING YOUR TRIP TO THE UNITED STATES. DURING YOUR

PRESSURE FROM TO THE UNITED STATES IN OCTOBER, HAVE YOU RECEIVED ANY THE U.S. GOVERNMENT CONCERNING THE LINK RATE BETWEEN HONG KONG DOLLARS AND U.S. DOLLARS? THE SECOND QUESTION IS, ABOUT YOUR TRIP TO

SO ARK

MANY RUMOURS CONCERNING YOUR TRIP TO CHINA. AS THERE

ABOUT YOUR TRIP, DO YOU RELATIONS WITH THE CHINESE GOVERNMENT AND

IN THINK IT IS POSSIBLE FOR YOU TO BRIEF THE LEGCO MEMBERS, LET'S SAY

THE VISIT TO CHINA ABOUT

CONTENT OF THE OMELCO MEETING, AFTER EVERY

THE CHINESE GOVERNMENT? I THINK THE CONVERSATION BETWEEN YOU

PERIOD. DO THIS PRACTICE, IT WAS THE PRACTICE DURING THE NEGOTIATION YOU THINK IT IS POSSIBLE?

AND

DIFFERENT QUESTIONS. LET H.E.: THANK YOU. THESE ARE TWO VERY

1 ME TAKE TERM IN ORDER. FIRST OF ALL, THE UNITED STATES. I SAID WHEN

RAISED WITH ME OF WAS IN THE UNITED STATES THAT THE POINT HAD BEEN THE LINK WITH THE U.S. DOLLAR. IT IS A POINT WHICH HAS COME UP BEFORE;

THE 1.M.F. CONFERENCE. IT IS A FOR INSTANCE, MR BAKER TALKING AT

MULFORD AND SOME POINT WHICH HAS COME UP MUCH MORE RECENTLY WITH MR

NOT COMMENTS THAT HE HAS MADE. WE HAVE MADE IT QUITE CLEAR THAT WE DO

LINK. WE SEF HONG KONG GETTING ANY UNFAIR TRADING ADVANTAGE FROM THE

FROM THAT OF SOUT!! SFF OUR POSITION AS BEING VERY DIFFERENT

IS VERY UNITED STATES

HUGE BECAUSE DEFICIT

KOREA OR TAIWAN, UNDERSTANDABLY

IN BOTH TRYING

CASES THOSE

REDUCE THE

INDEED

THE TRADE

OF PROTECTIONIST

IS TOTALLY TRADE IS ROUGHLY

TO SURPLUSES HAVE BEEN BUILT UP AGAINST THE BACKGROUND BARRIERS. I EXPLAINED IN THE UNITED STATES THAT HONG KONG DIFFERENT. WE ARE NOT RUNNING A TRADE SURPLUS. OUR

THIS YEAR BE SLIGHTLY IN IN BALANCE. IN FACT WE MAY AT THE END OF

ONE OF DEFICIT. I ALSO EXPLAINED TO THEM THAT THE PEG ARRANGEMENT IS

AND THE STABILITY KNORMOUS IMPORTANCE TO THE STABILITY OF HONG KONG

OUR TRADING SYSTEM. OF THE HONG KONG FINANCIAL SYSTEM AND THEREFORE

THEM

FOR THOSE

HAD NO AND I EXPLAINED TO INTENTION OF SHIFTING IT AND I AM BOUND TO SAY THAT WITH MOST PEOPLE I WAS TALKING TO I GOT A VERY SYMPATHETIC RESPONSE.

ALSO THAT

REASONS

WE

OF THE

/YOUR SECOND